Summary

THE COURT ORDERS THAT:

In lieu of the orders made by the Court at first instance on 24 February 2020 in NSD 602 of 2019 the following orders are made:

(a) The Court hereby and in these orders recognises as binding on the respondent (the Kingdom of Spain) the award of the International Centre for Settlement of Investment Disputes dated 15 June 2018 as rectified by the decision on rectification of the award against the respondent dated 29 January 2019 in Antin Infrastructure Services Luxembourg S.à.r.l. and Antin Energia Termosolar B.V. v the Kingdom of Spain (ICSID Case No. ARB/13/31) as certified by the Secretary-General on 11 July 2018 and 29 January 2019, respectively (the Award), and pursuant to s 35(4) of the International Arbitration Act 1974 (Cth) the Court orders that judgment be entered in favour of the applicants against the respondent for the pecuniary obligations under the Award in the sum of:

(i) EUR101,000,000 as compensation for the respondent’s breach of the Energy Charter Treaty, opened for signature 17 December 1994, 2080 UNTS 95 (entered into force 16 April 1998);

(ii) Interest on EUR101,000,000 from 20 June 2014 to 15 June 2018 at the rate of 2.07% per annum, compounded monthly, and from 16 June 2018 to the date of payment at the rate of 2.07% per annum, compounded monthly;

(iii) USD635,431.70 as a contribution to the payment of the applicants’ share of the costs of the arbitral proceedings; and

(iv) GBP2,447,008.61 as a contribution to the payment of the applicants’ legal representation, costs and expenses in the arbitral proceedings.

(b) Nothing in Order 1(a) shall be construed as derogating from the effect of any law relating to immunity of the respondent from execution.

(c) The respondent pay the costs of the applicants of the proceeding as agreed or assessed.

Subject to Order 3 below, the appellant pay the respondents’ costs of the appeal.

The European Commission pay such costs of the respondents to the appeal as are referable to the application to intervene and as are not referable to the matters raised on the appeal by the appellant.